Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212650 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
BOFIT Discussion Papers No. 6/2009
Verlag: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Zusammenfassung: 
We assess the effects of oil price shocks on real exchange rate and output in four large energy-producing countries: Iran, Kazakhstan, Venezuela, and Russia. We estimate four-variable structural vector autoregressive models using standard long-run restrictions. Not surprisingly, we find that higher real oil prices are associated with higher output. However, we also find that supply shocks are by far the most important driver of real output in all four countries, possibly due to ongoing transition and catching-up. Similarly, oil shocks do not account for a large share of movements in the real exchange rate, although they are clearly more significant for Iran and Venezuela than for the other countries.
Schlagwörter: 
structural VAR model
oil price
Iran
Kazakhstan
Russia
Venezuela
JEL: 
E31
E32
F31
Q43
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-462-967-6
Dokumentart: 
Working Paper

Datei(en):
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